First Citizens BancShares, Inc. $FCNCA Stock Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 417,088 shares of the bank’s stock after purchasing an additional 15,921 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Citizens BancShares were worth $816,022,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. SVB Wealth LLC bought a new position in First Citizens BancShares during the first quarter valued at about $35,000. Creekmur Asset Management LLC bought a new stake in First Citizens BancShares in the second quarter worth about $39,000. Allworth Financial LP lifted its holdings in First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after acquiring an additional 6 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of First Citizens BancShares by 32.1% during the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in shares of First Citizens BancShares by 32.5% in the 2nd quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock worth $104,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 2.5%

Shares of NASDAQ:FCNCA opened at $1,868.49 on Friday. The firm has a 50 day simple moving average of $1,797.71 and a 200 day simple moving average of $1,893.83. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $23.24 billion, a PE ratio of 11.05 and a beta of 0.75.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.21 billion. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.97%.

Insiders Place Their Bets

In other First Citizens BancShares news, Director Ellen R. Alemany acquired 300 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director owned 300 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several recent research reports. Raymond James Financial raised shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $2,100.00 to $2,200.00 in a research note on Thursday. Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Truist Financial increased their price objective on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Barclays reduced their price objective on First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Finally, Weiss Ratings lowered First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $2,165.83.

First Citizens BancShares Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.